Reported about 20 hours ago
BlackRock is set to acquire credit investment manager HPS Investment Partners in a deal valued at approximately $12 billion, enhancing its services for insurance clients. This acquisition will create a comprehensive private credit franchise with around $220 billion in client assets. HPS, which has about $148 billion in assets, is known for offering private credit solutions independently. The transaction, which involves equity exchange options, is expected to close by mid-2025, following a series of acquisitions by BlackRock this year.
Source: YAHOO